Monday, December 10, 2012

Cincinnati Parking Privatization Documents

In 2011 Cincinnati realized net operating income of $7,286,926.00 from the operation of the parking facilities subject to the proposed lease.

Some Highlights

"The Concessionaire is free to make adjustments to parking meter enforcement hours throughout the City"

"The $0.50 per hour neighborhood and Over-the-Rhine on-street parking rates may increase to $1.00 at the beginning of the Agreement"

"The Concessionaire is encouraged to propose new on street special event rates that could be charged during evenings and weekends except from8:00 AM to 5:00 PM, Monday through Friday."

Flexibility on On-Street Rates and Hours of Operation.
The Concessionaire will have the ability to phase in initial on-street parking rate increases with CPI-based or 4.5% per annum adjustments, whichever is greater, after the initial period and may adjust on-street meter hours of operation. Moreover, the potential exists to charge event parking rates at on-street meters outsideof 9:00 AM to 5:00 PM weekday business hours.

Potential Metered Parking System Expansion.
Approximately 300 on-street parking spaces included in the concession are not currently metered.

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COAST exists to limit the rate of taxes and spending at the federal, state, and local level to within the rate of inflation and to stop the abuse of power by government officials.

COAST advances this cause by consistent and principled adherence to limited government and lower taxes in fighting legislation and ballot initiatives that increase taxes and spending beyond the rate of inflation, and by supporting candidates for public office who advance these principles.